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CBSE XI | Accountancy
Sample Paper ? 3
CBSE
Class XI Accountancy
Sample Paper – 3
Questions
Time: 3 hours Max. Marks: 90
General Instructions:
1. All questions are compulsory.
2. Show your working notes clearly.
1. Is Accounting a Science or an Art? [1]
2. What is meant by a Cash Memo? [1]
3. Why are the rules of Debit and Credit same for Liability and Capital? [1]
4. What do you mean by Posting? [1]
5. Write any three objectives of Book-keeping. [3]
6. Rectify the following errors by passing entries: [3]
i. `2,000 received from Ramesh wrongly entered as from Suresh.
ii. The Purchase Book was under cast by `300.
iii. Total of Sales return was under cast by `500
7. Distinguish between Cash Discount and Trade Discount? [3]
8. Explain Revenue Recognition and Verifiable objective concept of accounting. [3]
9. Explain the purpose of creating provisions. [4]
10. Prepare Trial Balance from the following information: Bank overdraft `28,000, Cash in hand `4,000,
Purchase return `8,000, Sundry expenses `24,000, Sales return `16,000, Salaries `16,000, Purchases
`56,000, Sales `88,000, Creditors `24,000, Debtors `16,000, Stock (opening) `20,000, Machinery
`40,000, Capital `44,000. [4]
11. Basu accepted a bill drawn by Nandu amounted to `4,000 and payable after four months. Nandu
discounted it with banker @ 18% per annum. On the due date, bill was dishonoured. Bank paid `40 as
noting charges. After one month Basu paid the amount due to Nandu. Pass Journal entries in the books of
Nandu only. [4]
12. Prepare Single Column Cash Book of Vinod from the following transactions: [4]
Aug. 1 Business started with cash `10,000
Aug. 2 Purchased goods for cash `6,000
Aug. 5 Purchased furniture for office use `1,000.
Aug. 7 Goods sold for cash `4,000.
Aug. 9 Goods purchased from Ram on credit `4,000.
Aug. 10 Commission received `500.
Aug. 15 Paid to Ram `2,000.
Page 2
CBSE XI | Accountancy
Sample Paper ? 3
CBSE
Class XI Accountancy
Sample Paper – 3
Questions
Time: 3 hours Max. Marks: 90
General Instructions:
1. All questions are compulsory.
2. Show your working notes clearly.
1. Is Accounting a Science or an Art? [1]
2. What is meant by a Cash Memo? [1]
3. Why are the rules of Debit and Credit same for Liability and Capital? [1]
4. What do you mean by Posting? [1]
5. Write any three objectives of Book-keeping. [3]
6. Rectify the following errors by passing entries: [3]
i. `2,000 received from Ramesh wrongly entered as from Suresh.
ii. The Purchase Book was under cast by `300.
iii. Total of Sales return was under cast by `500
7. Distinguish between Cash Discount and Trade Discount? [3]
8. Explain Revenue Recognition and Verifiable objective concept of accounting. [3]
9. Explain the purpose of creating provisions. [4]
10. Prepare Trial Balance from the following information: Bank overdraft `28,000, Cash in hand `4,000,
Purchase return `8,000, Sundry expenses `24,000, Sales return `16,000, Salaries `16,000, Purchases
`56,000, Sales `88,000, Creditors `24,000, Debtors `16,000, Stock (opening) `20,000, Machinery
`40,000, Capital `44,000. [4]
11. Basu accepted a bill drawn by Nandu amounted to `4,000 and payable after four months. Nandu
discounted it with banker @ 18% per annum. On the due date, bill was dishonoured. Bank paid `40 as
noting charges. After one month Basu paid the amount due to Nandu. Pass Journal entries in the books of
Nandu only. [4]
12. Prepare Single Column Cash Book of Vinod from the following transactions: [4]
Aug. 1 Business started with cash `10,000
Aug. 2 Purchased goods for cash `6,000
Aug. 5 Purchased furniture for office use `1,000.
Aug. 7 Goods sold for cash `4,000.
Aug. 9 Goods purchased from Ram on credit `4,000.
Aug. 10 Commission received `500.
Aug. 15 Paid to Ram `2,000.
CBSE XI | Accountancy
Sample Paper ? 3
Aug. 18 Goods sold to Hari on credit `5,000.
Aug. 24 Received from Hari `4,000.
Aug. 28 Stationery purchased `300
Aug. 31 Rent paid `700 and withdrew for personal use `2,800.
13. Vinod has the following transactions. Show accounting equation for the same: [4]
i. Commenced business with Cash `50,000; Stock `30,000 and Machinery `20,000.
ii. Goods purchased on credit `10,000
iii. Rent Received `5,000.
iv. Sold goods costing `9,000 for Cash `12,000.
14. Prepare a Bank Reconciliation Statement on 31 December 2009 for the following when overdraft as per
pass book is `20,000: [6]
i. Cheques issued, but not presented for payment `25,000.
ii. Interest on bank overdraft charged by the bank, but not entered in cash book `1,000.
iii. Cheque deposited but not collected `22,000.
iv. Insurance premium `500 paid by bank under s standing order but not recorded in cash book.
15. A company purchased on 1
st
July, 2015 machinery costing `30,000. It further purchased machinery on 1
st
January, 2016 costing `20,000 and on 1
st
October, 2016 costing `10,000. On 1
st
April, 2017, one-third of
the machinery installed on 1
st
July, 2015 became obsolete and was sold for `3,000.
The company follows financial year as accounting year.
Show how the Machinery Account would appear in the books of company if depreciation is charged
@10% p.a. on Written Down Value Method. [8]
16. The amount paid to obtain license to carry out business is a Capital Expenditure or Revenue Expenditure?[1]
17. What is meant by hardware component of a computer? [1]
18. Opening capital `1,40,000, profit for the year `40,000, drawings `14,000. During the year proprietor sold
ornaments of his wife for `40,000 and invested the same in the business. Calculate closing capital. [3]
19. From the following information, calculate the amount of subscriptions outstanding for the year 2008-
2009: A club has 250 members and each paying an annual subscription of `1,000. The Receipts and
Payments account for the year showed a sum of `2,65,000 received as subscriptions. The following
additional information is provided: Subscription outstanding on 31st March, 2008 `40,000 Subscription
received in advance on 31st March, 2009 `30,000 Subscriptions received in advance on 31st March, 2008
`12,00 [3]
20. Vinod maintains his account on Single Entry System. Calculate his profit on 31st March, 2013 from the
following information: [6]
Particulars 1 April 2012 31 March 2013
Cash in hand 3,000 1,000
Bank Balance 9,000 7,000
Furniture 4,000 4,000
Stock 2,000 6,000
Creditors 8,000 6,000
Debtors 6,000 8,000
During the year his drawings were `2,000 and additional capital invested `4,000.
Page 3
CBSE XI | Accountancy
Sample Paper ? 3
CBSE
Class XI Accountancy
Sample Paper – 3
Questions
Time: 3 hours Max. Marks: 90
General Instructions:
1. All questions are compulsory.
2. Show your working notes clearly.
1. Is Accounting a Science or an Art? [1]
2. What is meant by a Cash Memo? [1]
3. Why are the rules of Debit and Credit same for Liability and Capital? [1]
4. What do you mean by Posting? [1]
5. Write any three objectives of Book-keeping. [3]
6. Rectify the following errors by passing entries: [3]
i. `2,000 received from Ramesh wrongly entered as from Suresh.
ii. The Purchase Book was under cast by `300.
iii. Total of Sales return was under cast by `500
7. Distinguish between Cash Discount and Trade Discount? [3]
8. Explain Revenue Recognition and Verifiable objective concept of accounting. [3]
9. Explain the purpose of creating provisions. [4]
10. Prepare Trial Balance from the following information: Bank overdraft `28,000, Cash in hand `4,000,
Purchase return `8,000, Sundry expenses `24,000, Sales return `16,000, Salaries `16,000, Purchases
`56,000, Sales `88,000, Creditors `24,000, Debtors `16,000, Stock (opening) `20,000, Machinery
`40,000, Capital `44,000. [4]
11. Basu accepted a bill drawn by Nandu amounted to `4,000 and payable after four months. Nandu
discounted it with banker @ 18% per annum. On the due date, bill was dishonoured. Bank paid `40 as
noting charges. After one month Basu paid the amount due to Nandu. Pass Journal entries in the books of
Nandu only. [4]
12. Prepare Single Column Cash Book of Vinod from the following transactions: [4]
Aug. 1 Business started with cash `10,000
Aug. 2 Purchased goods for cash `6,000
Aug. 5 Purchased furniture for office use `1,000.
Aug. 7 Goods sold for cash `4,000.
Aug. 9 Goods purchased from Ram on credit `4,000.
Aug. 10 Commission received `500.
Aug. 15 Paid to Ram `2,000.
CBSE XI | Accountancy
Sample Paper ? 3
Aug. 18 Goods sold to Hari on credit `5,000.
Aug. 24 Received from Hari `4,000.
Aug. 28 Stationery purchased `300
Aug. 31 Rent paid `700 and withdrew for personal use `2,800.
13. Vinod has the following transactions. Show accounting equation for the same: [4]
i. Commenced business with Cash `50,000; Stock `30,000 and Machinery `20,000.
ii. Goods purchased on credit `10,000
iii. Rent Received `5,000.
iv. Sold goods costing `9,000 for Cash `12,000.
14. Prepare a Bank Reconciliation Statement on 31 December 2009 for the following when overdraft as per
pass book is `20,000: [6]
i. Cheques issued, but not presented for payment `25,000.
ii. Interest on bank overdraft charged by the bank, but not entered in cash book `1,000.
iii. Cheque deposited but not collected `22,000.
iv. Insurance premium `500 paid by bank under s standing order but not recorded in cash book.
15. A company purchased on 1
st
July, 2015 machinery costing `30,000. It further purchased machinery on 1
st
January, 2016 costing `20,000 and on 1
st
October, 2016 costing `10,000. On 1
st
April, 2017, one-third of
the machinery installed on 1
st
July, 2015 became obsolete and was sold for `3,000.
The company follows financial year as accounting year.
Show how the Machinery Account would appear in the books of company if depreciation is charged
@10% p.a. on Written Down Value Method. [8]
16. The amount paid to obtain license to carry out business is a Capital Expenditure or Revenue Expenditure?[1]
17. What is meant by hardware component of a computer? [1]
18. Opening capital `1,40,000, profit for the year `40,000, drawings `14,000. During the year proprietor sold
ornaments of his wife for `40,000 and invested the same in the business. Calculate closing capital. [3]
19. From the following information, calculate the amount of subscriptions outstanding for the year 2008-
2009: A club has 250 members and each paying an annual subscription of `1,000. The Receipts and
Payments account for the year showed a sum of `2,65,000 received as subscriptions. The following
additional information is provided: Subscription outstanding on 31st March, 2008 `40,000 Subscription
received in advance on 31st March, 2009 `30,000 Subscriptions received in advance on 31st March, 2008
`12,00 [3]
20. Vinod maintains his account on Single Entry System. Calculate his profit on 31st March, 2013 from the
following information: [6]
Particulars 1 April 2012 31 March 2013
Cash in hand 3,000 1,000
Bank Balance 9,000 7,000
Furniture 4,000 4,000
Stock 2,000 6,000
Creditors 8,000 6,000
Debtors 6,000 8,000
During the year his drawings were `2,000 and additional capital invested `4,000.
CBSE XI | Accountancy
Sample Paper ? 3
21. Calculate value of Opening Stock from the following information: Cash sales `80,000; credit sales
`3,30,000; sales return `10,000; Purchases `2,48,000; Purchase return `8,000; carriage inwards
`16,000; closing stock `72,000; Rate of gross profit is 40% on sales. [6]
22. Explain the Tailor-made software. [6]
23. From the following particulars, prepare Income and Expenditure Account on 31-12-2006: [6]
24. From the following Trial Balance of M/s.Vinod and Sons as on 31st March 2010, prepare Trading and
Profit & Loss Account and Balance Sheet. [8]
Particulars ` Particulars `
Cash at Bank 6,000 Capital 50,000
Cash in hand 900 Sales 1,77,000
Advertisement 2,000 Creditors 25,000
Rent, Rates and Taxes 10,000 Rent Received 525
Carriage on sales 1,200 Purchase Returns 750
Carriage on purchase 750
Manufacturing wages 10,000
Salaries 6,000
Sundry debtors 45,000
Bank charges 75
Discount 350
Opening stock 30,000
Returns 1,000
Purchases 60,000
Plant and machinery 60,000
Loan to Ram 20,000
Adjustments:
i. Stock in hand at the end `35,000.
ii. Charge 20% of the advertisement this year.
iii. Charge interest on loan given to Ram @ 9% p.a.
iv. Create 5% provision for bad and doubtful debts.
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FAQs on Sample Question Paper 3 - Accountancy, Class 11 - Sample Papers for Class 11 Commerce
| 1. What is Accountancy? |  |
Ans. Accountancy is the process of recording, analyzing, and reporting financial transactions of a business or organization. It involves the measurement, processing, and communication of financial information to various stakeholders, such as investors, creditors, and management.
| 2. What are the objectives of Accountancy? | |
Ans. The objectives of Accountancy include:
- Recording and summarizing financial transactions accurately and systematically.
- Determining the financial position and performance of a business.
- Facilitating decision-making by providing relevant and reliable financial information.
- Ensuring compliance with legal and regulatory requirements.
- Providing information for planning and control purposes.
| 3. What are the different branches of Accountancy? | |
Ans. The different branches of Accountancy include:
- Financial Accounting: It involves the preparation and presentation of financial statements for external users.
- Management Accounting: It focuses on providing financial information for internal decision-making and control.
- Cost Accounting: It deals with the measurement, analysis, and control of costs in manufacturing and service industries.
- Auditing: It involves the independent examination of financial statements to ensure their fairness and accuracy.
- Tax Accounting: It deals with the preparation and filing of tax returns and compliance with tax laws and regulations.
| 4. What are the basic principles of Accountancy? | |
Ans. The basic principles of Accountancy include:
- Entity Concept: The business entity is separate from its owners.
- Going Concern Concept: The business is assumed to continue its operations in the foreseeable future.
- Accrual Concept: Transactions are recognized when they occur, not when the cash is received or paid.
- Consistency Concept: Accounting methods and practices should be consistent over time for comparability.
- Materiality Concept: Only significant information should be disclosed in the financial statements.
- Prudence Concept: Anticipate and provide for possible losses, but not gains, to ensure reliability.
- Cost Concept: Assets are recorded at their historical cost, not their market value.
| 5. What are the career options in Accountancy? | |
Ans. The career options in Accountancy include:
- Chartered Accountant (CA): They provide accounting, auditing, and financial advisory services.
- Cost and Management Accountant (CMA): They focus on cost analysis, management accounting, and financial planning.
- Company Secretary (CS): They ensure compliance with corporate laws and handle corporate governance.
- Financial Analyst: They analyze financial data, make investment decisions, and provide financial advice.
- Tax Consultant: They specialize in tax planning, compliance, and advisory services.
- Audit Manager: They oversee the auditing process and ensure compliance with auditing standards.
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Dec 22, 2024 Last updated |
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